I like Tesla and Amazon as companies, but I don’t like them at their current price. When speaking of PEs I mean it on a macro level. It’s broadly too high across the entire spectrum of stocks. There is nowhere else: CDs, Bonds, Money market, etc to put money, so everybody is piling into the stock market trying to get some yield. I think the market is propped up by low interest rates, the fed, and NAI No Alternative Investment. At some point (and I think sooner rather than later) we are going to see a crash because there just aren’t earnings to support the exorbitant prices. RCCL as an example is entirely a hope on future earnings. I’m not a gold guy, I’ll just wait for a better day to fish.
I continue to meter money into index funds for long range money, but in my mad money account I’m in a lot of cash and will wait for better opportunity.

https://www.multpl.com/s-p-500-pe-ratio

https://money.cnn.com/data/fear-and-greed/